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Macrofinancial Modeling At Central Banks
			: Recent Developments and Future Directions

Macrofinancial Modeling At Central Banks : Recent Developments and Future Directions »

Volume/Issue: 2012/21

Series: IMF Working Papers

Author(s): Jan Vlcek , and Scott Roger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463931834.001

ISBN: 9781463931834

Keywords: Monetary policy analysis, financial frictions, macroeconomic modeling, banking, bank capital, financial stability, banking sector, interbank market, Macroeconomics: Consumption, Saving

This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and finan...

Macrofinancial Modeling At Central Banks

Macrofinancial Modeling At Central Banks »

Source: Macrofinancial Modeling At Central Banks : Recent Developments and Future Directions

Volume/Issue: 2012/21

Series: IMF Working Papers

Author(s): Jan Vlcek , and Scott Roger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463931834

Keywords: Monetary policy analysis, financial frictions, macroeconomic modeling, banking, bank capital, financial stability, banking sector, interbank market, Macroeconomics: Consumption, Saving

This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and finan...

A Macro Model of the Credit Channel in a Currency Union Member
			: The Case of Benin

A Macro Model of the Credit Channel in a Currency Union Member : The Case of Benin »

Volume/Issue: 2010/191

Series: IMF Working Papers

Author(s): Issouf Samaké

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

DOI: http://dx.doi.org/10.5089/9781455202256.001

ISBN: 9781455202256

Keywords: Benin; Credit channel, government bonds, general equilibrium, stochastic simulation, bonds, reserve requirement, monetary policy, central bank, Simulation Methods, Macroeconomics: Production

This paper applies and extends a theoretical model built by Agénor and Montiel (2007) by exploring the effectiveness of government bonds and monetary policy in a small, open, credit-based economy with a fixed excha...

A Macro Model of the Credit Channel in a Currency Union Member

A Macro Model of the Credit Channel in a Currency Union Member »

Source: A Macro Model of the Credit Channel in a Currency Union Member : The Case of Benin

Volume/Issue: 2010/191

Series: IMF Working Papers

Author(s): Issouf Samaké

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455202256

Keywords: Benin; Credit channel, government bonds, general equilibrium, stochastic simulation, bonds, reserve requirement, monetary policy, central bank, Simulation Methods, Macroeconomics: Production

This paper applies and extends a theoretical model built by Agénor and Montiel (2007) by exploring the effectiveness of government bonds and monetary policy in a small, open, credit-based economy with a fixed excha...

Fire Sales and the Financial Accelerator

Fire Sales and the Financial Accelerator »

Source: Fire Sales and the Financial Accelerator

Volume/Issue: 2010/141

Series: IMF Working Papers

Author(s): Woon Choi , and David Cook

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

ISBN: 9781455201242

Keywords: fire sales, financial accelerator, endogenous recovery rate, financial shock, liquidity spiral, collateral, inflation, monetary policy, inflation targeting, real interest rates

During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates...

Fire Sales and the Financial Accelerator

Fire Sales and the Financial Accelerator »

Volume/Issue: 2010/141

Series: IMF Working Papers

Author(s): Woon Choi , and David Cook

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2010

DOI: http://dx.doi.org/10.5089/9781455201242.001

ISBN: 9781455201242

Keywords: fire sales, financial accelerator, endogenous recovery rate, financial shock, liquidity spiral, collateral, inflation, monetary policy, inflation targeting, real interest rates

During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates...

The Macroeconomic Effects of Migration from the New European Union Member States to the United Kingdom

The Macroeconomic Effects of Migration from the New European Union Member States to the United Kingdom »

Volume/Issue: 2007/61

Series: IMF Working Papers

Author(s): Dora Iakova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

DOI: http://dx.doi.org/10.5089/9781451866254.001

ISBN: 9781451866254

Keywords: new EU member states, free labor movement, dependency ratio, labor income, labor force, retirement, birth, Macroeconomics: Consumption, Saving, Production

The United Kingdom allowed workers from the ten new European Union member countries immediate access to its labor market after the accession in 2004. This paper uses a general equilibrium framework to explore the d...

The Macroeconomic Effects of Migration from the New European Union Member States to the United Kingdom

The Macroeconomic Effects of Migration from the New European Union Member States to the United Kingdom »

Source: The Macroeconomic Effects of Migration from the New European Union Member States to the United Kingdom

Volume/Issue: 2007/61

Series: IMF Working Papers

Author(s): Dora Iakova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

ISBN: 9781451866254

Keywords: new EU member states, free labor movement, dependency ratio, labor income, labor force, retirement, birth, Macroeconomics: Consumption, Saving, Production

The United Kingdom allowed workers from the ten new European Union member countries immediate access to its labor market after the accession in 2004. This paper uses a general equilibrium framework to explore the d...

Debt Dynamics and Global Imbalances

Debt Dynamics and Global Imbalances »

Source: Debt Dynamics and Global Imbalances : Some Conventional Views Reconsidered

Volume/Issue: 2007/4

Series: IMF Working Papers

Author(s): Guy Meredith

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2007

ISBN: 9781451865684

Keywords: Debt Dynamics, International Adjustment, exchange rate, current account, real exchange rate, external debt, current account deficit, Forecasting and Other Model Applications, Consumer Economics: Theory, Macroeconomics: Consumption

We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to...

Debt Dynamics and Global Imbalances
			: Some Conventional Views Reconsidered

Debt Dynamics and Global Imbalances : Some Conventional Views Reconsidered »

Volume/Issue: 2007/4

Series: IMF Working Papers

Author(s): Guy Meredith

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2007

DOI: http://dx.doi.org/10.5089/9781451865684.001

ISBN: 9781451865684

Keywords: Debt Dynamics, International Adjustment, exchange rate, current account, real exchange rate, external debt, current account deficit, Forecasting and Other Model Applications, Consumer Economics: Theory, Macroeconomics: Consumption

We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to...